Berkshire Hathaway 2003 Annual Report Download - page 30

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29
BERKSHIRE HATHAWAY INC.
and Subsidiaries
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
AND COMPREHENSIVE INCOME
(dollars in millions)
Year Ended December 31,
2003 2002 2001
Class A & B Common Stock
Balance at beginning and end of year........................................................ $ 8 $ 8 $ 8
Capital in Excess of Par Value
Balance at beginning of year ..................................................................... $26,028 $25,607 $25,524
Common stock issued in connection with business acquisitions ........... —324 —
Exercise of stock options issued in connection with business
acquisitions and SQUARZ warrant premiums ................................. 123 97 83
Balance at end of year ............................................................................... $26,151 $26,028 $25,607
Retained Earnings
Balance at beginning of year ..................................................................... $23,730 $19,444 $18,649
Net earnings........................................................................................... 8,151 4,286 795
Balance at end of year ............................................................................... $31,881 $23,730 $19,444
Accumulated Other Comprehensive Income
Unrealized appreciation of investments .................................................... $12,049 $ 3,140 $ (5,583)
Applicable income taxes ...................................................................... (4,158) (1,147) 1,956
Reclassification adjustment for appreciation
included in net earnings.................................................................... (4,129) (918) (1,488)
Applicable income taxes ...................................................................... 1,379 341 536
Foreign currency translation adjustments and other.................................. 267 272 (114)
Applicable income taxes ...................................................................... (127) (65) 24
Minimum pension liability adjustment...................................................... 1(279) (35)
Applicable income taxes ...................................................................... (3) 29 12
Other.......................................................................................................... 6 7 40
Other comprehensive income (loss) .......................................................... 5,285 1,380 (4,652)
Accumulated other comprehensive income at beginning of year.............. 14,271 12,891 17,543
Accumulated other comprehensive income at end of year ........................ $19,556 $14,271 $12,891
Comprehensive Income
Net earnings............................................................................................... $ 8,151 $ 4,286 $ 795
Other comprehensive income (loss) .......................................................... 5,285 1,380 (4,652)
Total comprehensive income (loss)........................................................... $13,436 $ 5,666 $(3,857)
See accompanying Notes to Consolidated Financial Statements